Morning News Update #Web3
🔻 $BTC Network Slowdown: Transaction volume hits near 12-month low with 330,000 7-day average, down 55% from all-time high. #Runes fees plummet to $20,000 monthly from initial $60M launch day.
📈 $ETH ETF Lending Potential: NYSE Arca applies for permission to allow pledging of Grayscale's Ethereum ETF shares, following similar Cboe BZX request for 21Shares ETF. Plan aims to generate additional returns from $ETH holdings for investors.
💼 West Virginia Crypto Bill: Senator Chris Rose proposes allowing state investment committee to allocate up to 10% in digital assets and precious metals, with $750B market cap requirement.
⚖️ SEC-Coinbase Extension: SEC requests 28-day extension in Coinbase appeal case to March 14, citing new crypto working group formation and classification considerations.
🇦🇷 Argentine #LIBRA Launch: President Milei announces official #memecoin LIBRA, experiencing significant volatility with market cap dropping from $5B to $1.1B.
